The deal is expected to close in the third quarter of 2018
US venture capital group Silver Lake has agreed to buy ZPG plc, the owner of British property websites Zoopla and PrimeLocation, in a deal worth £2.2bn.
Alex Chesterman, founder and chief executive of ZPG, said: “Silver Lake is the global leader in technology investing and I am firmly of the belief that ZPG will benefit from their technology expertise and global network, which will help accelerate our growth.”
Under the terms of the deal, each ZPG shareholder would get 490p in cash, Silver Lake said in a statement today.
Zoopla’s largest shareholder DMGZ and publisher of Britain’s Daily Mail newspaper, DMGT which owns almost 30 per cent, has already given irrevocable undertakings to accept the deal, according to CityAM.
The deal is expected to close in the third quarter of 2018, the companies said.